The Balanced Scorecard Course in Singapore
The Balanced Scorecard Course in Singapore
What is a Balanced Scorecard (BSC)?
A balanced scorecard is a strategic planning & performance management system that organisations use:
- To communicate what the company is trying to accomplish;
- Align their day-to-day work so that everyone is in-line with the organisation’s strategy;
- Prioritise projects, products, and services;
- Measure and monitor progress towards strategic targets.
The ‘balanced scorecard’ main focus is on managing the implementation of a strategy or operational activities – in a recent survey 62% of respondents stated using Balanced Scorecard for strategy implementation management, 48% for operational management. Balanced Scorecard is also used by people to track personal performance, but this is less popular, 17% of the total respondents in the survey using a Balanced Scorecard in this manner, nonetheless, it is clear from the same study that a more significant proportion (about 30%) use corporate Balanced Scorecard elements to notify personal goal setting and incentive considerations.
The Balance scorecard connects the dots between leading picture strategy elements such as mission (The company’s purpose), vision (what they aspire for), core values (what they believe in), strategic areas of focus (themes, results and goals) and the more operational work such as objectives (continuous improvement activities), measures (or key performance indicators, which track strategic performance), targets (their desired level of the performance), and initiatives (projects that help the organisation reach their targets).
What are the main characteristics that define a balanced scorecard?
- Its focus on the strategic agenda of an organisation;
- Requires the selection of a small number of data sets to monitor;
- Contains a mixture of financial and non-financial data sets.
The characteristic trait of the balanced scorecard and its derivatives is the presentation of a blend of financial and non-financial measures each analysed to a ‘target’ value within a single brief report. The report is not meant to replace traditional financial or operational reports but provide a concise summary that captures the data most relevant to those reading it. It is the process by which this ‘most relevant’ piece of information is determined (such as the design processes that will be used to select the content) that most distinguishes the various versions of the method in circulation. The balanced scorecard indirectly also presents a helpful insight into an company’s strategy – by requiring general strategic statements such as a mission, vision statement to be precipitated into more specific information.
The original versions of Kaplan and Norton’s interpretation of the balanced scorecard stated that relevance should obtain from the corporate strategy, and proposed design plans that focused on determining measures and targets linked with the main activities needed to implement the program. As the primary audience for this were the readers of the Harvard Business Review, the proposal was altered into a form that made sense to a typical reader of that journal – managers of US commercial companies. Consequently, initial designs were encouraged to measure 3 categories of non-financial measure as well as financial outputs which included “customers,” “internal business processes” and lastly “learning and growth.” These categories were not so important to the public sector or non-profit organisations, or units within complex organisations (which might have high degrees of internal specialisation), and much of the early research on balanced scorecard centred on suggestions of alternative ‘perspectives’ that might have more importance to these groups.
Modern, balanced scorecards have developed since the initial ideas proposed in the late 1980s and early 1990s, and the contemporary performance management tools including Balanced Scorecard are significantly improved – being more flexible (to suit a broader variety of organisational types) and more efficient (as design methods have developed to make them easier to design, and use)
Who Uses the Balanced Scorecard (BSC)?
Balanced Scorecards are used widely in business and industry, government, and nonprofit companies worldwide. Gartner Group proposes that over 50% of large US firms have used Balanced Scorecards. More than half of larger companies in the US, Europe, and Asia are using the Balanced Scorecard, with use growing in those areas as well as in the Middle East and Africa.
A new global study by Bain & Co-listed balanced scorecard fifth on its top ten most widely used management tools globally, a list that includes closely-related strategic planning at the top spot. The editors of Harvard Business Review also picked The Balanced Scorecard as the most influential business ideas of the past 75 years.
This The Balanced Scorecard workshop is ideal for anyone who would like to gain a strong grasp and improve their The Balanced Scorecard.
All Staff Within An Organisation
The ideal group size for this The Balanced Scorecard course is:
Minimum: 5 Participants
Maximum: 15 Participants
The duration of this The Balanced Scorecard workshop is 1 full day. Knowles Training Institute will also be able to contextualised this workshop according to different durations; 2 full days, 1 day, half day, 90 minutes and 60 minutes.
1 Full Day
9 a.m to 5 p.m
Below is the list of course benefits of our The Balanced Scorecard course
- Increases the strategic planning of the company
- Improves the building and communication strategy of the company
- Improves the productivity and efficiency of the company
- Provides proper direction and facilitates the planning process
- Helps in prioritizing by which limited resources can be optimally used
- Provides a clarity in the decision making process
Below is the list of course benefits of our The Balanced Scorecard objectives
- Understand the backdrop of balanced scorecard
- Determine objectives and plan of action for the critical tasks of projects
- Identify the techniques of prioritization of tasks
- Identify techniques to monitor the tasks on regular basis
- Develop realistic completion time for the tasks
- Make room for contingency planning
- Adopt best practices of industry
Below is the list of course benefits of our The Balanced Scorecard training programme content
- What is balanced scorecard?
- How balanced scorecard assists organizations in their management?
- How to properly plan activities and put all the efforts in the right direction?
- Discuss the various hindrances in prioritization of the tasks
- Contingency planning
- Success stories of successful organizations implementing the balanced scorecard
- Case study and group discussion
Each participant will receive the following materials for the The Balanced Scorecard course
The Balanced Scorecard Learner’s Guide
The Balanced Scorecard Key Takeaways Notes
The Balanced Scorecard Essentials Ebook
The Balanced Scorecard Course Handouts
The Balanced Scorecard 30-Day Action Plan
The Balanced Scorecard MindMaps Pack
The Balanced Scorecard PPT Slides Used During Course
The Balanced Scorecard Long-Term Memory Flashcards Pack
The Balanced Scorecard E-Learning Course
The Balanced Scorecard Online Video Course
The Balanced Scorecard Essentials Audiobook
The Balanced Scorecard Infographics Pack
Each course participant will receive a certification of training completion
There are 3 pricing options available for this The Balanced Scorecard training course. Course participants not in Singapore may choose to sign up for our online The Balanced Scorecard training course.
We have the following discounts, fundings & subsidies for this The Balanced Scorecard training course
Knowles Training Institute, 15 Changi Business Park Crescent, #05-06, Haite Building, Singapore 486006
Nearest Mrt Station: Singapore Expo MRT Station, Upper Changi MRT Station
Bus: Free Shuttle Bus from Changi City Point at 10 minutes Frequency
Drive: Ample of Parking Available. Quick Access to PIE, ECP & TPE
Our Trainers are Subject Matter Experts
Contact us for the latest The Balanced Scorecard course schedules:
Phone: +65 6817 2530
Request for this The Balanced Scorecard course brochure. Fill up the short information below and we will send it to you right away!
Post Training Support: A vast majority of training does not have any effect beyond 120 days. To work, training has to have a strong pre- and post-training component. Post-training reinforcement helps individuals to recall the understanding and ask questions.
Blended Learning: Learning does not occur in the classroom. Virtually everybody prefers distinct ways of learning. Successful learning should have a multi-channel, multi-modal strategy.
We Understand The Industry: We’ve got a profound comprehension of the business, business design, challenges, strategy and the that our participants are in and have designed the courseware to cater to their professional needs.
Course Content: Knowles Training Institute’s material is relevant, of high quality and provide specific learning results. Participants will leave the training course feeling as they have gained a strong understanding and will also be in a position to execute what they have learned sensibly.
Course Development — The workshop modules follow a systematic and logical arrangement. This structure helps to ensure that the course material allows the facilitators to deliver the course in a logical arrangement. Consider the subjects as building bricks into learning, our facilitators slowly build towards a comprehensive picture of this entire topic.